02 February 2010

Estate Taxes Rare In 2009

In the 1970s, eight percent of deaths were subject to a federal estate tax. By last year, this had dropped to a record low of less than 1%, impacting fewer estate than it did in the mid-1940s. Revenues, however, dropped far less, because large estate (i.e. the rich) were still subject to the tax.

There is no estate tax on the books for 2010, but unless legislative agreement is reached, they will return to much higher levels in 2011.

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